Asia Pacific > New Zealand outfit adds more biodiversity credit types

New Zealand outfit adds more biodiversity credit types

Published 11:59 on September 13, 2023  /  Last updated at 11:59 on September 13, 2023  / Stian Reklev /  Asia Pacific, Biodiversity, New Zealand

A New Zealand-based company on Wednesday announced it has launched biodiversity action credits tied to the conservation of two species of bird around the Southern Lakes Sanctuary on the country’s South Island, to add to its existing offerings.

A New Zealand-based company on Wednesday announced it has launched biodiversity action credits tied to the conservation of two species of bird around the Southern Lakes Sanctuary on the country’s South Island, to add to its existing offerings.

Carbonz has begun issuing Carbonz Biodiversity Action Credits (CBAC) to fund pest control in the habitat of the Mohua – or Yellowhead – in the Makarora region and the Kea – a parrot – in the Matukituki Valley, it said.

“Southern Lakes Sanctuary has an admirable track record working across several projects in the Southern Lakes region and we are relishing using biodiversity credits to scale up their work,” the company said on its website.

CBACs are issued to fund pest control in the habitats of specific species, and the credits represent the size of habitat controlled rather than a measured increase in biodiversity.

Each KEA credits represents 33 hectares of habitat controlled, and are available for NZ$700 ($413) each, while Mohua credits cost NZ$200 apiece, covering 15 ha.

According to the Carbonz website, CBACs can’t be used for offsetting purposes, and once bought via the company website the buyer is not allowed to sell them on.

“This credit can’t be re-sold and does not represent biodiversity ownership. No one owns biodiversity,” Carbonz said.

“Rather, this credit enables you to claim responsibility for the impact of one trap, which will protect a given area of native species habitat.”

The company launched its first CBAC in July for the protection of the Whio, and the website also lists available credits for the Rock Wren, a small song bird.

Carbonz’s latest move comes as the New Zealand government continues to consult on whether or not to establish a voluntary biodiversity credit market, though it remains unclear how a potential change of office after next month’s general election would affect those plans, or if the CBAC would be eligible in such a scheme.

Another NZ firm, Ekos, said in July it too has developed a biodiversity finance instrument that could be used in the government’s proposed market.

By Stian Reklev – stian@carbon-pulse.com

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